Main Street Research LLC Buys 537 Shares of Salesforce, Inc. (NYSE:CRM)

Main Street Research LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,280 shares of the CRM provider’s stock after acquiring an additional 537 shares during the period. Main Street Research LLC’s holdings in Salesforce were worth $2,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter worth about $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new position in Salesforce during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRM. Northland Securities reiterated an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Citigroup reiterated a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Wedbush reissued an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Price Performance

NYSE CRM opened at $282.74 on Monday. The stock’s fifty day moving average price is $323.68 and its 200 day moving average price is $308.84. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35.

Insider Activity

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Company insiders own 3.20% of the company’s stock.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.